Getting started with Instant Access Savings
Revolut Instant Access Savings are available in RON for personal accounts, and are free to open and manage.
How to access Instant Access Savings:
- Go to 'Home' on the bottom menu
- Below your balance, tap 'Accounts'
- Choose 'Add new'
- Tap 'Instant Access Savings'
- Follow the prompts to set up your account
Eligibility criteria
As per Instant Access Savings Terms, Revolut customers in Romania must meet all of the following criteria to open an Instant Access Savings account:
- Currently live in Romania
- Be a Romanian tax resident
- Provide your Personal number code (CNP)
- Be a customer of the Romanian branch of Revolut Bank UAB
Are there any minimum or maximum deposit amounts?
No minimum deposit is required. However, the maximum deposit allowed is RON 13,000,000.
All your deposits held with Revolut Bank UAB in aggregate are insured by the Lithuanian Deposit Insurance scheme. More information can be found in the Deposit Insurance Information document.
Changes since Revolut's Romanian branch launch
Revolut has opened a Romanian branch, with customer account migrations continuing for the next weeks. Instant Access Savings are now handled by the Romanian branch instead of the Lithuanian entity.
For existing Instant Access Savings, a key change is in taxation. Accounts yet to migrate have a 15% tax deducted on interest as mandated by Lithuanian law, with taxes reported and remitted to Lithuanian authorities.
However, after your account is migrated, we will make a 10% tax deduction on any interest before it's credited to your Instant Access Savings as is required by Romanian law. Then, we will report and remit the taxes withheld to the Romanian tax authorities.